Experts Forecast a Favorable Outlook for the Acceptance of ETFs Backed by Litecoin, Solana, Ripple, and Dogecoin
New Scope: Prospects of Crypto-ETFs: A Positive Outlook for Platforms like Litecoin, Solana, and Dogecoin
Hey there! Here's a piece of insider crypto news you might find intriguing.
According to leading ETF analysts, the chances of approval for exchange-traded funds (ETFs) centered around Litecoin, Solana, XRP, and Dogecoin are looking pretty promising. Eric Balchunas and James Seyffart have conducted a detailed analysis of spot crypto ETF applications, presenting relatively high odds of acceptance.
As it currently stands, the SEC has begun examining the 19b-4 forms for LTC and DOGE. If all goes as per the experts' predictions, we could see positive outcomes ranging from 65% to 90% by the final review date in October.
The experts have also reasoning behind their optimism. In the case of Litecoin, they argue that it should be classified as a "commodity," not a "security," and Dogecoin may receive the same classification—an interesting shift that could pave the way for these altcoins to join the mainstream.
Regarding XRP-based ETFs, the approval might be contingent upon resolving the ongoing dispute between the SEC and Ripple. However, experts are optimistic about a resolution in some form, which could lead to the green light for the XRP-ETF.
Meanwhile, other proposals like ADA-ETF and leveraged crypto-ETFs based on TRUMP, MELANIA, Bonk, BNP, and Chainlink are still in the pipeline, awaiting SEC approval.
These developments signal a potentially revolutionary period in the crypto sphere, with altcoin ETFs suddenly finding themselves in the limelight. As the SEC's digital asset working group, led by Hester Peirce, works to clarify token status in ongoing legal battles with industry representatives, the landscape for crypto-ETFs could become even clearer.
If the presidential election results favor someone other than Donald Trump, the crypto-ETF progress may be relatively slow— except for the LTC-ETF. But overall, the future of crypto-ETFs appears to be heading in a positive direction.
Stay tuned for more updates on the world of crypto-ETFs!
Bitcoin and Ethereum could also join the list of cryptocurrencies with ETFs, given the positive outlook for altcoin ETFs. The classification of Bitcoin and Ethereum as commodities, similar to Litecoin and potential Dogecoin, could pave the way for investing in these two popular cryptos through ETFs.
